When you are measuring cost per click Facebook ads cost on about 0.27 per click. If you are also measuring cost per thousand impressions Facebook ads cost about 7.19 dollar CPM. One thing you most lookout is that the cost of Facebook ads cost it depends and it 100% accurate.
Starting the Facebook ads with those averages mention above plastered in your mind is setting yours onto failure. If you ask me why? Because there are a few extremely important factors that determine your Facebook ad cost. I am going to list some of the factors that influence the cost of Facebook ads below so take a view.
- Your industry.
- Ad quality.
- Bidding type and amount.
- Ad objective.
Don’t worry I will break down on each of them affect Facebook ad cost see it below.
Type of ads Objective and the Way they Affect the Price
In the Facebook ads platform, they have different objectives goals from you to choose from each goal and each type of ad.
- It has deference KPIs
- It shows to different people based on the outcome you want.
This entire objective that you choose demines who Facebook shows ads to which can drastically affect your cost. Let me give you for an example, now just imagine that you are a home services owner, and you are just starting a Facebook campaign. You have already have set your target to including the people who are homeowners are interested in home improvement.
Now just imagine that Facebook needs to choose between two people to show your ads to, both of which match you’re targeting. The first person very clicks but never completes a lead form. And the Secord person does not click, on a lot of ads at all, but tend to fill out a lead form when they do click on one.
When your objective is to get traffic to your website, Facebook will only choose the click person to show your ad to and if your objective is to get leads, Facebook will choose the person most likely to convert. There are few people who are likely to convert than people who like to link to a website.
How does Facebook Ads Auction work – How Does it Affect Facebook Ads cost
The factors that play into how much the Facebook ads cost is the auction and your bid. Unfortunately like the advertising spot doesn’t go to the higher bidder, and instead is presented base on ad value. And according to Facebook, they strive for two things when showing ads such as,
- Creating the value for the advisers by helping them to reach and to get results from people in their target audiences.
- Proving the positive, relevant experiences for people using Facebook, Instagram or audience network
Do you know the best way to do it? The best way to do it is by you hold an auction in which both interests are represented.in that way, advertisers are reaching people receptive to their ads and users are seeing something they are interested instead in.do you know that this I different than a traditional auction? It is different because the winner is not the ad with the high monetary bid but the ad that creates the most overall value.